Published: Sunday, March 24, 2013 at 1:00 a.m.

Last Modified: Saturday, March 23, 2013 at 9:52 p.m.

BRADENTON - Recession-battered merchants here are feeling more confident about the future as ambitious projects, such as the new theater, bring positive attention to the city's urban core.

The multimillion-dollar home for the Manatee Players caps off a string of new developments near downtown Bradenton that many officials and merchants believe can lift the community out of its slump.

To be sure, Bradenton faces a slew of economic hurdles, including a grim commercial vacancy rate, rising foreclosures and a job market that continues to struggle with relatively tame consumer spending.

But a $50 million influx of new investment during the last 10 months has many thinking the area is poised for a rebound.

“Any city would give their right arm to have an investment like that,” said David Gustafson, executive director of the Bradenton Downtown Development Authority. “It's just a shock to see those kinds of figures spent here.”

When the economy began its deep descent in Southwest Florida — eroding the tax base, evicting families from homes and shuttering businesses that had been open for years — Bradenton felt the pain as much as anywhere in the region.

Even as the area began to mount its financial turnaround starting two years ago, Bradenton seemed to take a back seat to places like Sarasota, where a richer arts culture, well-heeled residents and more valuable properties had helped ease the pains of the downturn.

Now Bradenton is jostling to make a comeback.

The anchor of the recent improvements is a 1.5-mile park stretching along the Manatee River that opened in October after years of planning and construction. Among the amenities, the $6.2 million Riverwalk project includes a splash fountain, a skate park, a beach volleyball court, a fishing pier and a 20-slip day dock.

Riverwalk is the most ambitious development the city has seen in decades, and the effort is projected to bring 100,000 new visitors to downtown Bradenton each year.

The city's orchestrated plan does not stop there.

The infamous Pink Palace building — one of Southwest Florida's biggest eyesores — is undergoing a $15 million facelift to transform the 1920s hotel into a 115-room Hampton Inn and Suites.

Add recent upgrades to McKechnie Field, a new beer brewery in the Village of the Arts and a piano bar downtown, and merchants are beginning to see the most significant signs of revitalization since the Great Recession started six years ago.

If the improvements help fill cash registers, that will translate into more jobs as employers return to a downtown suffering from a 36.2 percent office vacancy rate. That rate is nearly double that of any other area in Manatee and Sarasota counties, and a stark contrast to Lakewood Ranch, with its 9.2 percent, and downtown Sarasota, at 13.4 percent.

For Greg Campbell, the new theater is the crown jewel.

“I talk to guests all of the time, and they're really excited about this,” said Campbell, executive chef and general manager of Pier 22, a waterfront restaurant in downtown Bradenton. “It's unbelievable to see the amount of people we're starting to get from Sarasota and St. Petersburg.”

The 38,800-square-foot venue along the waterfront on Third Avenue West will house a bistro on the first floor that Campbell will operate. He also signed a deal to become the exclusive food provider for catered events in the theater's second-floor ballroom.

Campbell expects revenue to spike accordingly. So do his competitors.

At O'Bricks Irish Pub and Martini Bar, sales are up 35 percent when compared with last year — the result of new patrons who decided to kick back with some spirits after a day at the park.

Rick Willats, a partner for the enterprise, said he thinks the new theater is the final ingredient to make the small downtown a regional destination — with entertainment, dining, nightlife and waterfront recreation all within blocks.

Since the waterfront park opened in October, gains in consumer spending have added weight to that sentiment, with revenues collected by merchants in Manatee reaching post-recession heights. Last year, Manatee businesses grossed $9.72 billion in sales, a steady 4 percent rise from 2011, according to the Florida Department of Revenue.

“When we first opened three years ago, this area was pretty rough,” said Willats, who also serves as president of the Old Main Street Merchants Association. “What the city has been able to accomplish in the past year alone is unbelievable.”

To help ease the expected parking congestion, Bradenton will test a new trolley system for its seafood festival on April 6. The trolleys will run between downtown, Village of the Arts and the baseball stadium.

The DDA also has been in preliminary talks with suitors interested in the Manatee Players' former home of 60 years, including a group interested in opening a live music venue there.

For the first time in years, merchants have hope that each of these new ideas will only help make downtown Bradenton better.

“Foot traffic has doubled in my little store, with kids coming in for energy drinks and candy bars,” said Jessie Esposito, who owns It's About Time Mini Mart.

<p><em>BRADENTON</em> - Recession-battered merchants here are feeling more confident about the future as ambitious projects, such as the new theater, bring positive attention to the city's urban core.</p><p>The multimillion-dollar home for the Manatee Players caps off a string of new developments near downtown Bradenton that many officials and merchants believe can lift the community out of its slump.</p><p>To be sure, Bradenton faces a slew of economic hurdles, including a grim commercial vacancy rate, rising foreclosures and a job market that continues to struggle with relatively tame consumer spending.</p><p>But a $50 million influx of new investment during the last 10 months has many thinking the area is poised for a rebound.</p><p>“Any city would give their right arm to have an investment like that,” said David Gustafson, executive director of the Bradenton Downtown Development Authority. “It's just a shock to see those kinds of figures spent here.”</p><p>When the economy began its deep descent in Southwest Florida — eroding the tax base, evicting families from homes and shuttering businesses that had been open for years — Bradenton felt the pain as much as anywhere in the region.</p><p>Even as the area began to mount its financial turnaround starting two years ago, Bradenton seemed to take a back seat to places like Sarasota, where a richer arts culture, well-heeled residents and more valuable properties had helped ease the pains of the downturn.</p><p>Now Bradenton is jostling to make a comeback.</p><p>The anchor of the recent improvements is a 1.5-mile park stretching along the Manatee River that opened in October after years of planning and construction. Among the amenities, the $6.2 million Riverwalk project includes a splash fountain, a skate park, a beach volleyball court, a fishing pier and a 20-slip day dock.</p><p>Riverwalk is the most ambitious development the city has seen in decades, and the effort is projected to bring 100,000 new visitors to downtown Bradenton each year.</p><p>The city's orchestrated plan does not stop there.</p><p>The infamous Pink Palace building — one of Southwest Florida's biggest eyesores — is undergoing a $15 million facelift to transform the 1920s hotel into a 115-room Hampton Inn and Suites.</p><p>Add recent upgrades to McKechnie Field, a new beer brewery in the Village of the Arts and a piano bar downtown, and merchants are beginning to see the most significant signs of revitalization since the Great Recession started six years ago.</p><p>If the improvements help fill cash registers, that will translate into more jobs as employers return to a downtown suffering from a 36.2 percent office vacancy rate. That rate is nearly double that of any other area in Manatee and Sarasota counties, and a stark contrast to Lakewood Ranch, with its 9.2 percent, and downtown Sarasota, at 13.4 percent.</p><p>For Greg Campbell, the new theater is the crown jewel.</p><p>“I talk to guests all of the time, and they're really excited about this,” said Campbell, executive chef and general manager of Pier 22, a waterfront restaurant in downtown Bradenton. “It's unbelievable to see the amount of people we're starting to get from Sarasota and St. Petersburg.”</p><p>The 38,800-square-foot venue along the waterfront on Third Avenue West will house a bistro on the first floor that Campbell will operate. He also signed a deal to become the exclusive food provider for catered events in the theater's second-floor ballroom.</p><p>Campbell expects revenue to spike accordingly. So do his competitors.</p><p>At O'Bricks Irish Pub and Martini Bar, sales are up 35 percent when compared with last year — the result of new patrons who decided to kick back with some spirits after a day at the park.</p><p>Rick Willats, a partner for the enterprise, said he thinks the new theater is the final ingredient to make the small downtown a regional destination — with entertainment, dining, nightlife and waterfront recreation all within blocks.</p><p>Since the waterfront park opened in October, gains in consumer spending have added weight to that sentiment, with revenues collected by merchants in Manatee reaching post-recession heights. Last year, Manatee businesses grossed $9.72 billion in sales, a steady 4 percent rise from 2011, according to the Florida Department of Revenue.</p><p>Merchants expect those figures to climb further, especially as downtown projects add vitality to Bradenton.</p><p>“When we first opened three years ago, this area was pretty rough,” said Willats, who also serves as president of the Old Main Street Merchants Association. “What the city has been able to accomplish in the past year alone is unbelievable.”</p><p>To help ease the expected parking congestion, Bradenton will test a new trolley system for its seafood festival on April 6. The trolleys will run between downtown, Village of the Arts and the baseball stadium.</p><p>The DDA also has been in preliminary talks with suitors interested in the Manatee Players' former home of 60 years, including a group interested in opening a live music venue there.</p><p>For the first time in years, merchants have hope that each of these new ideas will only help make downtown Bradenton better.</p><p>“Foot traffic has doubled in my little store, with kids coming in for energy drinks and candy bars,” said Jessie Esposito, who owns It's About Time Mini Mart.</p><p>“It's been a blessing in disguise, for sure.”</p>